Mobile Home Investing CHANGES Noticed IN 2018

[@gabrielradvansky2321]

Thank you for your generosity in giving away so much solid information and content.

[@livinghoperenovations9353]

These are some fantastic data points to know. I’ve noticed several big parks being sold near me and I’ve been very curious to see the greater view of where mobiles are going. This content is top notch. I need to watch this multiple times. Lol

[@jasonestes3455]

Brand new and green to purchasing MHs for investments and came across my first one today and although the price seems great for the home I'm hoping I don't jump in too fast not accounting for move costs/permits etc. Wish me luck guys and girls! John, all of the videos to go through are much appreciated!

[@uslander]

Super enlightening video, John. To see Fannie Mae trending toward chattel loans bodes REALLY well for the industry.Thanks for putting this and all that you do in front of the community. I look forward to being in touch after selling the two MHs we are wrapping up renos on in North Fort Myers!!

[@12345corsica]

Charlie Uslander Hi Charlie, I’m just starting out in kinda the same area as you. I’m more towards FT Myers beach. Would love to buy you coffee and brainstorm. I have only completed 10 flips so far so pretty new at this. Let me know if your available. I would enjoy learning from someone who has been in this area and doing deals. Thank you

[@ctech6049]

VERY helpful and informative. Keep up this kind of factual, industry-specific, research-based info. It is so necessary that we keep current as investors. Also, keep putting dates/years in video titles if relevant. It helps to find the most updated content on your KZbin channel. Also, you might mention (in any of your videos where applicable) the option/benefit/value of joining your state's professional MH association, to advocate for the MH Building industry as a whole, which helps all of us. Joining gives investors a positive name and legitimizes us as helping the industry as well. Keep up the great content.

[@jbone79]

Love your videos John. I appreciate you and Thank you!

[@jroshnett8112]

I did a large scale in property management for about 20 years by overseeing four privately owned adult foster care homes. I was responsible of curve appeal, the outside of the house and the inside both required constant attention from the roof down to the walls and lawn plus all operating necessities such as AC unit, Heater, Hot water heater, indoor applicances, and kitchen / bathroom fixtures. Moreover; i was responsible in soliciting clients such as the geriatrics's into the home once a vacancy becomes available. The financial business was dealt separate to the property, I maintained all the records / documents such as medication orders for refills, medication administration list, updating each and every resident's medical charts by hand and on the computer, drafting and printing new and healthier weekly menus, grocery list, inventory and shopping, paying all the utilities and accounts due, daily supervision of the care provided by the staff, hiring, firing and evicting clients along with warnings and meetings were conducted a monthly basis. I as the administrator and the licensee of the business worked simultaneously with the smooth operation of the business with satisfied residents, reassurance of quality individualized care for their loved ones, and happy staff members. There is way too much to cover in this narrative of what I did and the experience I gained by learning daily along with the anticipation of applying the skills for a profitable investment. Therefore, I have applied for numerous property management assistance jobs and everyone replies (if they do reply) that my previous experience does not qualify as a reference for experience and experience of two or more years of property management of some type is mandatory to be accepted in the hiring process. Premier Senior Living was the name of the Adult Foster Care homes in Ann Arbor Mi. Now sold to a new owner and with a new business name was replaced. Question, if this is true that I am not qualified to be a property management assistant then how will be able to manage the business of buying and selling mobile homes along with its requirements of clerical duties? Thank you.

[@MobileHomeFormula]

Hi J Roshnett, Thank you for reaching out and connecting. Additionally, thank you for your detailed comment as the certainly does tell me try to point you in the right direction. Without a doubt it certainly sounds like you are thoughtful and sincere individual that takes his job seriously, enjoys working with others, and is very proficient with regards to property management and dealing with people. In my opinion you are more than qualified with your previous experience, however sometimes experience is just the tip of the iceberg and other qualifications or licenses may be needed. With that said I know a number of unlicensed workers that are way more experienced, caring, and proficient then licensed folks. With that said I hesitate to give you any wrong or misleading information. If you have any specific questions you may want to call up your local Secretary of State to see if they could point you in the right direction of who you could talk to with regards to getting this question answered correctly. I would rather you hear directly from the horses mouth as to what is needed so that you are sure about things moving forward. Having more clarity is almost always better than having less clarity. Moving forward if you have any future mobile home related questions or concerns never hesitate to reach out any time. All the best. Keep in touch. Talk soon, John

[@MrKenGuzman]

Good vid John

[@wellsnapyeah]

Very interesting. Thanks for making this.

[@richardweidner1625]

nice update, thanks John

[@davidgriggs4875]

hey john, which of your videos will teach me how much i should pay for a mobile and how do i know how much to put into it? and how do i figure out how much to sell it for? thanks i watch your videos everyday and im ready to start!

[@laurawalker546]

For manufactured home purchasers buy into a resident-owned community or one that you own the land. Do not go with a landlord because you won't be paying ever-increasing rents unless they get rent control established in the town where they are located and you could get advice from your district attorney on laws and also go to your town Selectmen if people are having trouble with exponential rising of rents. And there are Charities out there or organizations that will help people become resident owned communities so that rents will stabilize as if you are paying a mortgage on the land in common

[@catoway74]

Thanks sir! I'm going to follow your lead!

[@RealLifeFinance]

I have been in finance and mortgage banking for two decades. Anything the govt does is slow....even if they start it will be years before it even affects 10% of the market. It may honestly be a boon for fixers as maybe Fannie Mae comes up with 10yr loans for used 30yr old mobile home buyers. We fix them and then offer private financing or sell for more via govt loans.

[@coreythompson1115]

I want to get you on the @roughneck 2 real estate podcast.

[@tomdevlin1126]

John, do you have any thougths about Owner Financing of mobile homes and/or vacant lots with regard to Dodd-Frank restrictions? Thanks!

[@MobileHomeFormula]

Hi Tom Devlin, Thank you for reaching out and connecting. Yes, my thoughts are to follow Dodd Frank, the safe act, and the other truth in lending act and restrictions concerning selling dwellings via owner financing to end-users. This is obviously a very general answer, however it is definitely not something you want to fool around with. If you have any questions definitely contact a local real estate attorney or mortgage loan originator familiar with owner financing to help you when selling homes this way moving forward. I hope this helps and starts to point you in the right direction. Any follow-up questions or concerns never hesitate to reach out anytime or email me directly. All the best. Talk soon, John

[@g.t.g1111]

Thank you Mr Fedro I did find the information very helpful. I still thinking how to acquire the 14 MHP 🏡I emailed you about recently.

[@MobileHomeFormula]

Hi G.T.G 1, Very good to hear from you. I'm glad that this was helpful. Definitely keep me posted about the community. Although I was not interested in this one I'm certainly happy to help if you have any general questions. Keep in touch. All the best. Keep up the great work! Talk soon, John

[@godblessamericahomeofthefr4642]

Hey John question for you you said about moving mobile homes out of the parks what is the average rate The mobile home movers get to move a mobile home say 15 to 30 minutes away from the park?

[@MobileHomeFormula]

Hi Hacked fake news Hacked fake news, Thank you for reaching out and connecting. Around the country the cost to move a single wide or double wide mobile home 30 minutes within town from park to park can cost very differently depending on your area, whether the mobile home currently has axles, wheels, or a tongue, any pop outs or additions or decks the mobile home will be taking with it from one location to another, etc. Additionally, make sure you know what you are getting when you speak to each mobile home mover. Sometimes the movers just transport the mobile home from one location to another, and other movers only will set up a home or get it ready for traveling. However many movers will handle everything as far as getting the home ready to be moved, moving it, leveling it, and securing it with anchors at the new location. Additionally, someone will need to connect the utilities at the new location and also install new skirting as the mobile home will typically not be at the same exact level as it was in its original location. However, in my experience to move a single wide it will be roughly between $3000-$6000 depending on your area of the country, and double that or triple that to move a double wide. I hope this all helps and starts to point you in the right direction. As always, if you ever have any follow-up questions or concerns now or moving forward never hesitate to reach out any time. Talk soon, John

[@laurawalker546]

No more new parks allowed because of government wanting tax from houses and no matter how luxurious these homes are still not considered a home. So state and us govt feel cheated out of tax because tax only on land ... that's what I heard

[@tomdevlin1126]

John, second question, does one need to have a "dealers license" when flipping several mobile homes in a calendar year? Thanks again!!

[@MobileHomeFormula]

Hi Tom, Devlin, Good to hear from you again. Like most questions in real estate, the answer to this question is, "it depends". I've created another video a while ago on this topic. Please check it out and let me know your thoughts. kzbin.info/www/bejne/lZutpK1vgLaKhLM Please feel free to reach out to your email if you have any follow-up questions. All the best. Talk soon, John

[@truthinspector6390]

I believe the number is after 4 u do

[@Marie-st3pi]

This varies state to state. Illinois is enacting a law that will only allow ONE manufactured home sale in a year. After that it is a $1000 cost for licensing. Unsure if it is a yearly fee to keep them from having many dabblers in investing or a one time fee. Bonding is also a requirement. There are only 3-4 states that allow unlimited private party sales. Most states have a cap at 2-3 then all the license and bonding costs and stuff kick in.